Decline in manufacturing turnover

Published:

Seasonally-adjusted figures showed that the total turnover in Norwegian manufacturing decreased by 0.6 per cent in the period February to April 2018 compared with the previous three-month period. However, a 1.9 per cent increase was recorded from March 2018 to April 2018.

Written by: Robert Skotvold

The index value for turnover in manufacturing was 144.7 (2005=100) in the period February-April 2018, compared to 145.6 in the previous three-month period, according to seasonally-adjusted figures.

1  The index value for period m is the average of period m, m-1 and m-2.

Figure 1. Index of turnover for manufacturing. Seasonally adjusted. Three-month moving average¹. 2005=100

Index of turnover for manufacturing
Jan. 2008 144.5
Feb. 2008 145.8
Mar. 2008 145.6
Apr. 2008 146.2
May 2008 146.8
June 2008 149.4
July 2008 151.3
Aug. 2008 151.5
Sep. 2008 152.4
Okt. 2008 150.3
Nov. 2008 148.2
Dec. 2008 144
Jan. 2009 142.5
Feb. 2009 141.3
Mar. 2009 142
Apr. 2009 139.5
May 2009 137.2
June 2009 133.5
July 2009 132.8
Aug. 2009 134
Sep. 2009 135.9
Okt. 2009 137
Nov. 2009 137.1
Dec. 2009 137.4
Jan. 2010 137.1
Feb. 2010 136
Mar. 2010 135.1
Apr. 2010 135.5
May 2010 136.3
June 2010 137.5
July 2010 138.2
Aug. 2010 136.8
Sep. 2010 134.5
Okt. 2010 134.7
Nov. 2010 137.3
Dec. 2010 138.3
Jan. 2011 137.4
Feb. 2011 136.6
Mar. 2011 135.4
Apr. 2011 136.7
May 2011 136.4
June 2011 137.9
July 2011 136.7
Aug. 2011 136.2
Sep. 2011 136.1
Okt. 2011 137.1
Nov. 2011 139.1
Dec. 2011 141.6
Jan. 2012 143.4
Feb. 2012 144
Mar. 2012 143.8
Apr. 2012 142.7
May 2012 143.2
June 2012 142.8
July 2012 143.8
Aug. 2012 143.6
Sep. 2012 144.9
Okt. 2012 145
Nov. 2012 145.8
Dec. 2012 145.4
Jan. 2013 146.6
Feb. 2013 145.5
Mar. 2013 146.7
Apr. 2013 146
May 2013 146.2
June 2013 147.5
July 2013 150.9
Aug. 2013 153.6
Sep. 2013 153.9
Okt. 2013 152.1
Nov. 2013 151.7
Dec. 2013 151.2
Jan. 2014 150.2
Feb. 2014 151
Mar. 2014 149.9
Apr. 2014 151.6
May 2014 150.5
June 2014 149.8
July 2014 148.9
Aug. 2014 151.3
Sep. 2014 151.5
Okt. 2014 151.8
Nov. 2014 150.7
Dec. 2014 151.9
Jan. 2015 149.8
Feb. 2015 149.6
Mar. 2015 150.7
Apr. 2015 152.9
May 2015 152.3
June 2015 150.9
July 2015 149.5
Aug. 2015 148.8
Sep. 2015 148.1
Okt. 2015 147.8
Nov. 2015 145
Dec. 2015 143.4
Jan. 2016 141.2
Feb. 2016 139.6
Mar. 2016 138.4
Apr. 2016 137.5
May 2016 139.6
June 2016 139.7
July 2016 139.7
Aug. 2016 137.4
Sep. 2016 136.6
Okt. 2016 135.4
Nov. 2016 134.9
Dec. 2016 133.5
Jan. 2017 135.4
Feb. 2017 137.2
Mar. 2017 139.2
Apr. 2017 139.2
May 2017 138.3
June 2017 138
July 2017 138.2
Aug. 2017 139.8
Sep. 2017 140.8
Okt. 2017 142.2
Nov. 2017 143.4
Dec. 2017 145.5
Jan. 2018 145.6
Feb. 2018 145
Mar. 2018 143.8
Apr. 2018 144.7

Three-month change: greatest decline in refined petroleum and chemical products

Seasonally-adjusted figures showed that the turnover in Norwegian manufacturing decreased by 0.6 per cent from February to April 2018 compared with the previous three-month period. The export market was behind the decline. The industry grouping refined petroleum and chemical products contributed the most to the negative development.

Basic metals and machinery and equipment also contributed to the negative development. Here the negative contributions were smaller.

Paper and paper products and fabricated metal products had the greatest impact on curbing the total increase in the manufacturing turnover.

 

1  The index value for period m is the average of period m, m-1 and m-2.

Figure 2. Selected industries. Seasonally adjusted. Three-month moving average¹

Food, beverages and tobacco Refined petro. chemicals, pharmac. Fabricated metal products Ships, boats and oil platforms Machinery and equipment
Jan. 2012 153.4 152.3 168.1 118.4 197.5
Feb. 2012 154.6 152.6 172.3 120.7 202.5
Mar. 2012 159.9 155.6 173.0 135.0 197.0
Apr. 2012 158.7 155.8 169.8 129.1 202.0
May 2012 158.9 154.1 169.9 137.0 212.5
June 2012 155.2 147.4 171.0 145.5 210.8
July 2012 156.0 146.8 168.7 154.5 210.7
Aug. 2012 155.5 153.1 171.1 140.5 206.5
Sep. 2012 155.3 158.3 172.0 147.3 215.0
Okt. 2012 153.6 156.9 175.7 142.9 227.5
Nov. 2012 154.2 151.1 175.4 153.3 229.4
Dec. 2012 158.1 151.9 166.6 142.9 229.6
Jan. 2013 160.8 154.9 165.0 147.3 236.2
Feb. 2013 160.7 156.8 158.0 134.3 238.7
Mar. 2013 160.1 156.4 180.1 136.3 235.3
Apr. 2013 162.0 153.6 183.3 126.5 233.6
May 2013 165.8 149.4 190.0 134.8 240.2
June 2013 166.4 146.2 179.8 139.8 261.5
July 2013 169.3 147.2 177.7 160.7 271.0
Aug. 2013 170.0 151.1 174.8 161.3 274.6
Sep. 2013 170.5 158.5 170.9 157.3 275.3
Okt. 2013 169.9 157.0 170.8 142.0 264.8
Nov. 2013 168.3 155.9 174.9 142.7 279.0
Dec. 2013 170.2 150.6 170.0 147.1 277.0
Jan. 2014 168.1 152.4 172.5 143.7 273.7
Feb. 2014 168.4 152.4 172.2 157.1 264.7
Mar. 2014 165.9 148.6 173.8 161.6 257.8
Apr. 2014 170.5 146.7 172.9 167.2 265.9
May 2014 171.6 144.4 169.9 157.0 261.5
June 2014 172.9 142.3 168.5 152.2 268.5
July 2014 170.8 140.1 171.1 144.5 275.4
Aug. 2014 172.1 136.5 171.1 151.1 307.1
Sep. 2014 173.1 135.3 171.9 149.7 307.1
Okt. 2014 173.3 133.2 170.3 161.7 305.5
Nov. 2014 174.2 136.1 169.8 158.0 291.1
Dec. 2014 175.7 133.9 172.1 155.9 297.3
Jan.2015 177.7 128.1 160.1 139.6 305.0
Feb. 2015 177.3 122.6 158.1 143.4 306.9
Mar. 2015 176.9 126.4 156.8 141.5 317.3
Apr. 2015 177.9 129.6 165.0 156.0 306.6
May 2015 178.7 130.6 167.1 150.5 301.4
June 2015 179.3 131.9 163.2 145.6 282.1
July 2015 179.1 132.9 157.3 137.8 273.0
Aug. 2015 180.3 129.7 157.7 132.8 261.4
Sep. 2015 180.1 133.2 153.0 132.0 254.9
Okt. 2015 181.5 135.9 154.3 121.6 255.7
Nov. 2015 183.0 138.9 146.8 110.0 242.9
Dec. 2015 185.3 132.1 150.6 112.9 236.4
Jan. 2016 186.6 123.9 150.1 120.2 222.6
Feb. 2016 190.5 115.4 149.8 119.8 211.2
Mar. 2016 192.9 110.1 144.4 112.1 202.8
Apr. 2016 194.0 108.6 142.4 105.6 195.0
May 2016 193.1 113.2 140.8 115.6 189.1
June 2016 194.2 114.7 143.9 118.5 171.2
July 2016 194.2 115.2 151.5 114.6 166.5
Aug. 2016 193.7 113.4 155.1 101.9 160.9
Sep. 2016 193.7 107.1 157.5 99.0 168.8
Okt. 2016 194.9 102.7 148.7 101.2 161.3
Nov. 2016 195.8 97.9 147.0 105.8 148.4
Dec. 2016 195.5 101.4 141.6 100.9 131.8
Jan. 2017 196.3 117.5 142.0 97.4 127.3
Feb. 2017 197.1 131.3 140.7 90.5 131.3
Mar. 2017 197.9 138.8 148.1 96.6 126.9
Apr. 2017 195.8 134.4 146.2 96.1 125.7
May 2017 190.6 132.0 145.0 92.7 121.0
June 2017 186.9 130.7 144.8 86.8 127.5
July 2017 188.1 128.7 141.8 92.9 116.2
Aug. 2017 192.5 130.8 136.3 99.6 118.0
Sep. 2017 195.2 135.0 135.1 99.9 115.6
Okt. 2017 195.0 138.7 146.0 95.5 124.1
Nov. 2017 194.9 142.0 146.6 95.6 127.2
Dec. 2017 197.6 149.4 144.1 96.7 141.3
Jan. 2018 195.5 153.0 138.6 95.1 143.7
Feb. 2018 194.6 150.2 144.2 95.4 143.4
Mar. 2018 191.8 143.0 141.8 95.7 135.5
Apr. 2018 196.8 139.7 147.5 98.0 138.9

Monthly change: increase in manufacturing turnover

Total Norwegian manufacturing turnover showed an increase of 1.9 per cent from March to April 2018, according to seasonally-adjusted figures.

The biggest contribution came from food products and fabricated metal products.

On the other hand, reduced turnover in chemical products had the greatest impact on curbing the positive development in total turnover.

Monthly change: increase in Norway and decrease in the euro area in March 2018

Total turnover in Norwegian manufacturing went up 0.3 per cent from February to March 2018, according to seasonally-adjusted figures. Manufacturing in the euro area was down 0.1 per cent in the same period. In the Nordic countries, the turnover in Denmark was down 1.3 per cent and was up in Sweden by 0.3 per cent, according to Eurostat.

On the effect of Easter

It is important to be aware that the uncertainty for the calendar-adjusted and seasonally-adjusted indices for March and April is greater than normal due to the changed placing of Easter. This effect will also affect the seasonally-adjusted figures for the 1st and 2nd quarters. This is accounted for when adjusting for seasonal variations. However, it can still be difficult to adjust for all impacts.

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